Federal Reserve watchdog finds no criminal violations for building renovation cost overruns

Economy The Guardian By Lauren Aratani in New York 30 Sep 2026 17:49 1 min read
Federal Reserve watchdog finds no criminal violations for building renovation cost overruns

Trump criticized $2.4bn rehab amid attempts to pressure then Fed chair Jerome Powell into lowering interest rates An internal watchdog said the Federal Reserve mismanaged costs associated with a $2.4bn renovation of its Washington DC headquarters, but noted that no criminal violations occurred, according to a report released on Wednesday. For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Departmen

For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Department of Justice criminal investigation that was dropped in April.

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